Stock futures experienced minimal changes on Wednesday night following a rally in major averages after the Federal Reserve maintained its outlook for two interest rate cuts in 2025. Futures linked to the Dow Jones Industrial Average increased by 0.1%, while S&P 500 and Nasdaq 100 futures both rose by 0.1%.
The Fed retained the federal funds rate within the range of 4.25% to 4.5%, as widely anticipated, and upheld its forecast for two rate cuts in 2025 despite an economic outlook indicating higher inflation and reduced growth. Stocks climbed, recovering some losses from a market sell-off that began in February.
The Dow increased by 0.9%, the S&P 500 surged just over 1%, and the Nasdaq Composite gained 1.4%, though it remains in correction territory. The S&P 500, which briefly entered correction territory last week, is now more than 7% below its record high.
Federal Reserve Chair Jerome Powell labeled the potential tariff impact on inflation as likely being short-lived. Investors are now awaiting weekly jobless claims data, the Philadelphia Fed’s manufacturing survey, and a report on existing home sales.
— news from CNBC
